Eagle Asset Management Inc. Grows Position in Air Products and Chemicals, Inc. (NYSE:APD)

Eagle Asset Management Inc. boosted its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 22.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,220 shares of the basic materials company’s stock after buying an additional 5,854 shares during the period. Eagle Asset Management Inc.’s holdings in Air Products and Chemicals were worth $10,085,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Air Products and Chemicals by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,249,142 shares of the basic materials company’s stock valued at $371,920,000 after acquiring an additional 14,077 shares during the period. L & S Advisors Inc increased its holdings in Air Products and Chemicals by 179.4% in the 3rd quarter. L & S Advisors Inc now owns 21,538 shares of the basic materials company’s stock valued at $6,413,000 after purchasing an additional 13,828 shares during the last quarter. Blackhawk Capital Partners LLC. purchased a new stake in Air Products and Chemicals in the third quarter valued at approximately $1,168,000. LPL Financial LLC lifted its stake in Air Products and Chemicals by 1.3% during the third quarter. LPL Financial LLC now owns 308,329 shares of the basic materials company’s stock worth $91,802,000 after purchasing an additional 3,901 shares in the last quarter. Finally, Cornerstone Advisors LLC boosted its position in shares of Air Products and Chemicals by 39.6% during the third quarter. Cornerstone Advisors LLC now owns 6,700 shares of the basic materials company’s stock worth $1,995,000 after buying an additional 1,900 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

APD stock opened at $331.83 on Friday. The stock has a market cap of $73.77 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 3.30 and a beta of 0.81. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $332.69. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72. The business has a 50 day moving average price of $310.63 and a 200 day moving average price of $282.91.

Air Products and Chemicals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.13%. Air Products and Chemicals’s payout ratio is 41.21%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on APD shares. Evercore ISI raised Air Products and Chemicals from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $305.00 to $365.00 in a research note on Monday, October 7th. BMO Capital Markets raised their price objective on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. Citigroup increased their target price on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Mizuho boosted their price target on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $331.53.

Air Products and Chemicals Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.